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Report: Etsy planning IPO


New York -- Etsy, an online marketplace site that specializes in crafts and artsy items, plans to hold an initial public offering this quarter, according to Bloomberg.

The Brooklyn-based company, which is working with Goldman Sachs and Morgan Stanley, looks to raise about $300 million, the report said.

Etsy CEO Chad Dickerson, a former Yahoo executive, has said that the company has been profitable since 2009 and has raised $91.7 million in funding over the years. Etsy's main revenue comes from charging sellers $0.20 to list a single item for four months, and then 3.5% of the value of the sale if an item sells. It also sells ads and processes payments.

The site has more than one million active sellers, selling about 26 million items.

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